Development Accounting & Asset Management Lead

About Baxter

Baxter Development is a forward-thinking real estate development firm focused on creating impactful projects in strategically selected secondary markets. Our work centers on transit-oriented development and the integration of sustainable building technologies that support long-term durability, operational efficiency, and environmental responsibility. Baxter has developed 1,000 residential units and 300,000 commercial SQFT in the past four years, across the Hudson Valley (NY) and Miami (FL). Our focus is on multi-family and mixed-use “placemaking” projects that enhance communities, and the pipeline is robust.

Position Overview

The Development Accountant & Real Estate Asset Manager is responsible for the financial accounting, reporting, budgeting, and strategic oversight of Baxter's real estate development projects and stabilized property portfolio. This role blends technical development accounting (job cost accounting, GAAP compliance, construction draws, investor accounting) with full-cycle asset management — developing and executing business plans for existing assets, driving value-add initiatives, and delivering portfolio-level financial and operational oversight.

The objective of this position is threefold:

1. Maintain accurate, GAAP-compliant financial records for development projects and properties, including job costing, AP/AR, and investor accounting.

2. Coordinate the transition of developments from delivery to stabilized operations, and manage each asset's business plan to achieve target returns.

3. Give ownership a clear, consistent, and proactive understanding of how each project and property is performing — flagging issues and opportunities early and driving them toward resolution rather than simply reporting numbers.

This individual works closely with ownership, project managers, property management, leasing, lenders, and investors, and should be highly analytical, organized, financially sophisticated, and comfortable identifying problems, understanding root causes, and helping drive solutions.

Key Responsibilities1. Strategy & Portfolio Performance

• Coordinate the transition of developments from delivery to stabilized operations.
• Develop and implement asset-level business plans and value-add strategies.
• Conduct market research and analyze trends to inform investment decisions.
• Monitor property financials, operating budgets, and variance reports for each asset.
• Calculate and track key investment metrics, including NOI, DSCR, LTV, LTC, IRR, Cash-on-Cash, and Equity Multiple.
• Provide direction, mentorship, and accountability to the property management team.

2. Financial Reporting & Analysis

• Prepare and analyze monthly financial statements for development projects and properties.
• Review and reconcile project/property budgets, forecasts, and variances; recommend reallocations as needed.
• Provide project cost reporting and ensure accurate capitalization of costs.
• Assess asset valuations and generate detailed performance reports for owners and investors.
• Support implementation of general ledger and accounting software upgrades as needed.

3. Development & Job Cost Accounting

• Oversee the setup and maintenance of job cost records for development projects.
• Monitor and process accounts payable (including requesting insurance certificates and W-9s) and accounts receivable related to projects.
• Track and report construction draw requests, ensuring accuracy and compliance with loan agreements.
• Work closely with project managers to manage financial progress and performance metrics.

4. Budgeting & Forecasting

• Collaborate with project teams to develop detailed development project budgets.
• Create and maintain annual operating budgets for each property, working with property management and accounting to establish realistic revenue and expense assumptions based on historical performance and trends.
• Update forecasts and cash flow projections throughout the year based on actual performance.
• Maintain projected year-end NOI and cash flow forecasts for each property.
• Assist in preparing annual budgets and reforecasts for development initiatives.
• Identify properties or projects trending materially above or below budget.

5. Monthly Performance Review & Variance Analysis

• Review monthly property- and project-level financial statements; track budget vs. actual for every property.
• Regularly analyze actual financials compared to budgets and adjust forecasts accordingly.
• Analyze significant revenue and expense variances and provide clear explanations for material items.
• Identify cost anomalies, unexpected increases, duplicate or incorrect charges, and other areas requiring investigation.
• Monitor trends in key expense categories, including utilities, payroll, repairs & maintenance, turnover costs, insurance, property taxes, management fees, and contract services.
• Work with property management and accounting to investigate and resolve discrepancies before they become significant problems.

6. Ownership & GP Reporting

• Prepare a standardized monthly reporting snapshot for ownership and GP partners for each property, covering revenue, operating expenses, NOI, budget vs. actual, occupancy, collections, delinquency/bad debt, rent growth, leasing activity, concessions, cash balances, CapEx, debt, major operational issues, updated year-end forecast, and key action items.
• Maintain a consolidated, portfolio-level dashboard so ownership can quickly identify which properties are outperforming, underperforming, or need attention.
• Present property/asset performance improvement plans to ownership.
• Act as a liaison between the accounting department and project/property management teams, presenting financial data and insights to senior management.

7. Investor Relations, Reporting & Dispositions

• Prepare quarterly investor reporting packages for LP partners covering financial performance, NOI, occupancy and leasing, major capital projects, business plan progress, distributions, financing activity, significant developments, and forward outlook.
• Liaise with owners, lenders, and investors throughout the project lifecycle.
• Support disposition decisions with financial modeling and process management; prepare and deliver performance and disposition reports.
• Coordinate with ownership and accounting to ensure investor reporting is accurate and delivered on schedule, with consistent formatting across investments.
• Send communications to prospective investors with relevant marketing and pro forma materials.
• Monitor bank tracking and receipt of incoming wires from investors.
• Obtain and process financial reporting for other non-real estate investments, as applicable.

8. Juniper Square & Investor Portal Administration

• Own and manage the company's Juniper Square platform, including investor records, investment/ownership information, quarterly reports, financial documents, capital calls, distributions, investor communications, and document organization.
• Ensure Juniper Square data remains accurate and consistent with accounting records, legal ownership structures, and internal reporting.
• Update the investor portal with funding timing, and upload and distribute K-1 documents.
• Periodically/annually confirm investor contact and bank information is current.
• Gather FinCEN-required information as applicable.

9. Debt & Financing Management

• Maintain a portfolio-wide debt schedule including original loan amount, current balance, interest rate (fixed/floating), monthly debt service, interest-only expiration, maturity date, extension options, and major covenants.
• Proactively identify upcoming maturities, refinancing requirements, rate changes, or potential covenant issues, giving ownership sufficient advance notice to make financing decisions.

10. Leasing & Tenant Relations

• Develop and implement property marketing strategies.
• Oversee lease negotiations, renewals, and terms to maximize occupancy and income.
• Collaborate with property managers to retain tenants and ensure lease compliance.
• Address issues affecting tenant satisfaction and asset performance.

11. Operations, Maintenance & Property Management Oversight

• Review operational efficiency and property maintenance strategies; coordinate with property management for repairs and upkeep within budget constraints.
• Review property management financial and operating reports; question unexplained variances and follow up on operational issues affecting performance.
• Hold property management accountable to approved budgets and track agreed-upon corrective actions.
• Identify opportunities to increase revenue or reduce operating expenses, and work with property management to improve underperforming assets.
• Serve as an additional layer of financial and operational oversight between property management and ownership.

12. Portfolio KPI Management & Action Tracking

• Track and analyze key performance indicators across the portfolio, including occupancy, economic occupancy, collections, delinquency, bad debt, rent growth, concessions, leasing velocity, renewal rates, turnover, revenue/opex per unit, NOI, NOI margin, CapEx, and cash flow.
• Develop standardized benchmarks so ownership can compare performance across properties and identify outliers.
• Maintain a monthly Asset Management Action List for each property, documenting each significant issue or opportunity with its financial impact, root cause, recommended action, responsible party, target completion date, and current status. The goal is not just to report problems (e.g., “R&M is $40,000 over budget”) but to determine why, whether it's temporary or recurring, who owns the fix, and when ownership should expect resolution.

13. Regulatory Compliance & Audit

• Ensure compliance with Generally Accepted Accounting Principles (GAAP) and other applicable regulations.
• Ensure all assets comply with local, state, and federal regulations, including zoning, building codes, and fair housing.
• Maintain accurate compliance documentation and ensure regulatory reports are submitted on time.
• Maintain documentation supporting financial transactions and project/property costs.

14. Entity Management & General Business Administration

• Manage general document control, including payment tickets, policies, organizational documents, and other miscellaneous records.
• Handle entity formation, EIN applications, and general entity management.
• Use DocuSign for document execution workflows.
• CPA or public accounting experience preferred.

Core Objectives of the Position

This role should ensure ownership can answer three questions at any time:

4. How is every property/project performing? Ownership should have clear visibility into financial and operational performance across the portfolio.

5. Where are the problems and opportunities? Proactively identify financial anomalies, operational issues, underperformance, and improvement opportunities.

6. What is being done about them? Every material issue should have an action plan, a responsible party, and a timeline.

Measures of Performance / What Success Looks Like

• Asset and portfolio performance meets or exceeds budgeted targets.
• Ownership spends significantly less time gathering and organizing project/property information.
• Financial problems are identified earlier, and property managers are held accountable to their budgets.
• Deliverables and reports are complete, timely, and consistent with company standards across the portfolio.
• GP partners receive concise monthly visibility; LP partners receive professional, timely quarterly reporting.
• Cash, CapEx, debt, and major recurring obligations are proactively monitored rather than managed reactively.
• Ownership has one reliable source of truth for development and portfolio performance.
• Effective communication and collaboration is realized with internal and external teams.
• Initiative is taken to resolve operational and financial issues independently, with regular participation in asset management meetings.
• The company moves from reactive oversight to disciplined, proactive asset management.
• Exhibits a high degree of professionalism, strategic thinking, and creativity, and responds to special assignments positively and promptly.

QualificationsEducation

• Bachelor's degree required. Concentrations in Accounting, Finance, Real Estate, Business, or a related field preferred. MBA or master's degree preferred but not required. CPA designation preferred.

Experience

• Minimum of 5 years of professional experience in real estate development, property operations, asset management, investment analysis, construction, hospitality, or a related industry.
• Strong understanding of job cost accounting, project management processes, and real estate asset management.
• CPA or public accounting experience preferred.

Technical Skills

• Extensive financial modeling and analytical skills; advanced Excel proficiency required.
• Strong working knowledge of property management, accounting, and investor portal software platforms (e.g., Yardi, QuickBooks, Juniper Square, or equivalent) and ERP systems.
• Strong understanding of leasing, development, and investment fundamentals.
• Familiarity with DocuSign and general document management tools.

Soft Skills

• Strong analytical and problem-solving abilities, with a bias toward identifying root causes and driving solutions.
• Excellent written, business, and interpersonal communication skills, comfortable presenting to senior management and investors.
• Adept at managing projects, deadlines, and relationships across departments.
• Unwavering attention to detail, initiative, and professionalism.
• Ability to work collaboratively with cross-functional teams (project managers, property managers, leasing, lenders, investors).

Working Conditions / Physical Demands

Physical demands are limited but must be met by all employees to perform essential job functions successfully; reasonable accommodation may be provided for individuals with disabilities. This position involves sitting, standing, walking, attending meetings, traveling to property sites, and occasional weekend or evening work.

Work Environment

Office-based role with minimal travel to project and property sites. Fast-paced, deadline-driven environment requiring flexibility and strong time-management skills.

Pay: $70,000.00 - $95,000.00 per year

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Work Location: In person

Salary : $70,000 - $95,000